• Fri. Mar 1st, 2024

Amazon’s Billionaire Founder Bezos Sells 12 Million Shares, Netting $2 Billion in Earnings

ByEditor

Feb 11, 2024
Jeff Bezos offloads $2 billion worth of Amazon shares

Billionaire Jeff Bezos sold 12 million shares of Amazon.com Inc., marking his first time selling the company’s stock since 2021. The transactions took place on Wednesday and Thursday, resulting in over $2 billion in net earnings, according to a filing. This comes as Bezos has been selling up to 50 million shares of the company over the next 12 months amid a surge in Amazon’s stock price, which has positioned him as a contender for the title of the world’s richest person.

In February, Amazon revealed that Bezos plans to sell up to 50 million shares of the company over the next year. As of Friday, Bezos’ fortune has increased by $22.6 billion this year, reaching $199.5 billion, according to the Bloomberg Billionaires Index. With a history of selling Amazon shares dating back to 2002, Bezos has sold over $30 billion worth of shares, including approximately $20 billion combined in 2020 and 2021. Along with selling shares, Bezos has also donated stock, with approximately $230 million worth of shares being given to nonprofit organizations in November.

Amazon declined to comment on Bezos’ recent sales through a spokesperson. To stay updated on how AI is shaping the future of business, readers can subscribe to the Eye on AI newsletter for free.

Leave a Reply